Shake Shack (SHAK) Q3 FY2024 earnings: revenue $317 million, up 14.7% on the year

Shake Shack Inc. (SHAK) reported revenue of $317 million for Q3 FY2024, the quarter ended 25 September 2024, up 14.7% on the same quarter a year earlier. Net income was -$10 million, and diluted earnings per share $-0.26. The figures are the company's own, from the 10-Q it filed with the SEC on 31 October 2024.

Revenue$317 millionup 14.7%

Net income-$10 million

Diluted EPS$-0.26

QuarterQ3 FY2024ended 25 September 2024

The quarter, against the one before and a year earlier

Line	Q3 FY2024	Q2 FY2024	Q3 FY2023	Change on the year
Revenue	317	316	276	+14.7%
Operating income	-18.0	10.8	5.7	n/a
Operating margin	-5.7%	3.4%	2.0%
Interest expense	0.5	0.5	0.4	+15.0%
Pre-tax income	-15.0	13.6	8.7	n/a
Income tax	-3.9	3.2	0.5	n/a
Effective tax rate	n/a	23.4%	6.1%
Net income	-10.2	9.7	7.6	n/a
Net margin	-3.2%	3.1%	2.8%
Diluted EPS	-$0.26	$0.23	$0.19	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2024	Q2 FY2024	Q3 FY2023	Change on the year
Operating cash flow	41.9	53.5	28.4	+47.4%
Capital expenditure	34.8	32.9	38.3	-9.1%
Free cash flow	7.1	20.6	-9.9	n/a
Free cash flow margin	2.2%	6.5%	-3.6%
Cash from investing	-31.8	-10.9	-40.8	n/a
Cash from financing	-1.0	-1.0	-1.2	n/a
Depreciation and amortisation	25.7	25.5	23.1	+11.2%
Share-based compensation	4.2	3.7	3.5	+19.3%
Diluted shares, weighted	40m	41m	44m	-9.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2024	Q2 FY2024	Q3 FY2023	Change on the year
Shareholders' equity	456	462	416	+9.5%
Non-controlling interest	23.0	24.0	25.6	-10.5%
Debt	246	246	245	+0.4%
Operating lease liabilities	499	488	463	+7.7%
Finance lease liabilities	8.7	9.0	8.2	+5.6%
Other liabilities	442	433	406	+8.9%
Total liabilities and equity	1,675	1,662	1,565	+7.1%
Fixed assets	545	545	526	+3.7%
Investments	0.0	2.6	95.0	n/a
Cash and equivalents	311	302	190	+63.6%
Receivables	16.7	15.9	13.9	+20.5%
Inventory	5.1	5.2	4.6	+11.7%
Other assets	798	791	736	+8.4%
Total assets	1,675	1,662	1,565	+7.1%

Questions

What was Shake Shack's revenue in Q3 FY2024?

Shake Shack (SHAK) reported revenue of $317 million for Q3 FY2024, the quarter ended 25 September 2024, up 14.7% on the same quarter a year earlier.

How much did Shake Shack earn in Q3 FY2024?

Net loss for Q3 FY2024 was $10 million, and the diluted loss per share $0.26.

When did Shake Shack report Q3 FY2024 results?

Shake Shack filed its 10-Q for the quarter ended 25 September 2024 with the SEC on 31 October 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	276	286	291	316	317	329	321	356	367	401	367	418
Operating income	5.7	-1.3	0.0	10.8	-18.0	10.2	2.8	22.4	18.5	18.7	-2.6	20.7
Operating margin	2%	-0%	0%	3%	-6%	3%	1%	6%	5%	5%	-1%	5%
Interest expense	0.4	0.5	0.5	0.5	0.5	0.5	0.6	0.5	0.5	0.5	0.5	0.6
Pre-tax income	8.7	1.5	2.7	13.6	-15.0	12.9	5.2	24.7	21.1	21.5	-0.4	22.8
Tax rate	6%	-384%	19%	23%	n/a	28%	14%	25%	35%	40%	n/a	26%
Net income	7.6	7.2	2.0	9.7	-10.2	8.7	4.2	17.1	12.5	11.8	-0.3	15.7
Net margin	3%	3%	1%	3%	-3%	3%	1%	5%	3%	3%	-0%	4%
Diluted EPS	$0.19	$0.17	$0.05	$0.23	-$0.26	$0.21	$0.10	$0.41	$0.30	$0.28	-$0.01	$0.37
Operating cash flow	28.4	41.5	30.7	53.5	41.9	45.1	31.2	65.0	63.0	63.1	8.5	57.0
Capital expenditure	38.3	33.1	33.1	32.9	34.8	34.7	29.4	38.1	39.3	59.2	47.2	57.7
Free cash flow	-9.9	8.4	-2.4	20.6	7.1	10.4	1.9	26.9	23.7	4.0	-38.7	-0.7
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 25 September 2024, filed 31 October 2024, accession 0001620533-24-000110: the filing on EDGAR. All of Shake Shack Inc.'s filings: EDGAR company page.

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